Recap As predicted last week, the pair failed to take out the resistance zone and is forced to go lower. The whole week is just 50% of the range established from the week before last week. That is usually what happen when the pair itself has strong upside bias but one side of the pair (in this case USD) is showing signs of major reversal across the board.
Outlook If B-0 is taken out swiftly and turns into support (i.e. 1-2-3 buy off B-0 on hourly is one of the best scenarios), B+1 and then B+2 are in play. If B-1 is taken out and turns into resistance, B-3 is the 1st target.
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
Lawrence's Comment
Recap
As expected, higher price level was reached. 1.05 was an important price level for the pair before it dropped below 1.0. Without much pullback, 1.05 was tagged at ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
GBPUSD Feb 14 to Feb 18 Outlook
Lawrence’s Comment
As predicted last week, the pair failed to take out the resistance zone and is forced to go lower. The whole week is just 50% of the range established from the week before last week. That is usually what happen when the pair itself has strong upside bias but one side of the pair (in this case USD) is showing signs of major reversal across the board.
Outlook
If B-0 is taken out swiftly and turns into support (i.e. 1-2-3 buy off B-0 on hourly is one of the best scenarios), B+1 and then B+2 are in play.
If B-1 is taken out and turns into resistance, B-3 is the 1st target.
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